Microfinance Loan Brings A New Start For Memunatu
Following is an update about a beneficiary of our project Sponsor Microfinance: Empower Small Businesses
Microfinance continues to be in high demand in Sierra Leone. This is due to the fact that this is a proven way of helping people get out of poverty and develop a new sustainable income. Thanks to your support, we offered this lifeline of support in February to Memunatu.
Memunatu comes from a very poor family who lives in a slum dwelling. She has 4 brothers and 4 sisters. Both parents are alive but very poor and unable to take care of their children. Memunatu struggled through her primary and secondary education with meagre support from the Forum for African Women Educationalists (FAWE). Due to her challenging family background (e.g. difficulty in getting a meal a day, no conducive place to study, little or no learning materials, etc.) Memunatu did not do well in the final Senior Secondary School examination (West Africa Senior School Certificate Examination-WASSCE).
However, because of her due determination and quest for advancement in life, she was supported by an individual to pursue a two-year catering course. She graduated with a good result, but has not been fortunate to secure a job.
We have supported Memunatu with a micro-finance grant to embark on micro- enterprise. Based on the nature and volume of her business, Memunatu has requested to utilize the funds in phases as she improves on her business skills as well as minimize risks of losing the seed money due to poor management.
She is using the knowledge and skills acquired in the catering school to prepare and sell by snacks such as fish ball, fish-in-batter, fried sausage, meat pie and kebbe (local food). She makes a return of between Le15, 000 and Le20, 000 ($2.54 -$3.39) a day. She is using part of the profit to take care of herself and her family (i.e. parents and siblings).
Memunatu is very grateful to our donors for this support. She promises to work hard and advance herself and improve the standard of living of her parents and siblings.
Together we are truly changing the world, one life at a time.